Today I will share with you some thoughts about bitcoin, as far as investing in it goes.
Many people ask me questions about investing in bitcoin. Should you invest in bitcoin? Do I personally invest in bitcoin? Is it too late to invest in bitcoin? Is bitcoin going to crash soon?
The reason I chose to invest in the stock market, back when I started, is because I knew that business would be around for the long term. I knew I had time, and if I learned how to do it, there was a lot of potential in it, and it was something that was regulated, which made it a safer business.
When you look at bitcoin or many of the other cryptocurrencies out there, they are not really regulated, and it’s not a business that I know and understand well enough, and that’s why I do not invest in cryptocurrencies.
Could I put a small portion of capital in it to see what happens? Yes, I could! but that would be speculation or gambling, not investing.
You need to remember that there are a lot of things that you can invest your money in. There are opportunities everywhere, and you can only capitalize in those opportunities when you have the experience.
There are two ways of making a lot of money. One is looking for a one-time thing that will make you rich. Some people want to do it like that and they are constantly looking for their big opportunity.
This is the lottery mindset, and that is the mindset that a lot of people have right now when it comes to bitcoin, they want to get in it because they want to get rich quick.
The other approach is people who build their skill sets and assets, they educate themselves, they learn to manage risk and reward and they build a strong foundation. And in my opinion, that is the best way of building wealth, instead of looking for a one-time thing that will make you rich. And That’s why I choose not to invest in bitcoin or any other cryptocurrency.
Posted: Posted at: http://tradersfly.com/2017/12/ep-165-investing-bitcoin/
★ REGISTER FOR A FREE LIVE CLASS ★
http://bit.ly/marketevents
★ GETTING STARTED RESOURCE FOR TRADERS ★
http://bit.ly/startstocksnow
* Please note: some of the items listed below could and may be affiliate links **
* Trading Software / Tools *
Scottrade: http://bit.ly/getscott
SureTrader http://bit.ly/getsuretrader
TC2000: http://bit.ly/gettc2000
TradeKing: http://bit.ly/gettradeking
TradeStation: http://bit.ly/getstation
★ SHARE THIS VIDEO ★
★ SUBSCRIBE TO MY YOUTUBE: ★
http://bit.ly/addtradersfly
★ ABOUT TRADERSFLY ★
TradersFly is a place where I enjoy sharing my knowledge and experience about the stock market, trading, and investing.
Stock trading can be a brutal industry especially if you are new. Watch my free educational training videos to avoid making large mistakes and to just continue to get better.
Stock trading and investing is a long journey – it doesn’t happen overnight. If you are interested to share some insight or contribute to the community we’d love to have you subscribe and join us!
FREE 15 DAY TRIAL TO THE CRITICAL CHARTS
– http://bit.ly/charts15
GET THE NEWSLETTER
– http://bit.ly/stocknewsletter
STOCK TRADING COURSES:
– http://tradersfly.com/courses/
STOCK TRADING BOOKS:
– http://tradersfly.com/books/
WEBSITES:
– http://rise2learn.com
– http://criticalcharts.com
– http://tradersfly.com
– http://backstageincome.com
– http://sashaevdakov.com
SOCIAL MEDIA:
– http://twitter.com/criticalcharts/
– http://facebook.com/criticalcharts/
MY YOUTUBE CHANNELS:
– TradersFly: http://bit.ly/tradersfly
– BackstageIncome: http://bit.ly/backstageincome
source
Coming back to this…your video convinced me to take my money out of bitcoin at the top and allowed me to start a day trading account! Thanks for your thoughts on speculation!
I love your video about Penny stock.
I am very new to the stock market. You said that you don't trade bitcoin because you don't know anything about it. Fair enough. Then you said that you don't trade rare coins, stamps, gold, etc. Now, I know this might sound stupid, but what is left for you to trade then? Also, based on my logic, not being familiar with a trade doesn't mean that you shouldn't trade. Think about it, when you first got into stuck market, were you familiar with it? Or you challenged yourself to learn about it and not being afraid of it?
Your talks are really informative and balanced with pros and cons from each side. 🙂
Gained an incredible amount of knowledge from this channel….so when I heard intelligent investors like Sasha saying they haven’t done their DD on crypto currency, it instills more confidence in myself that digital assets are still in their infancy…2018 will most likely be a very prosperous year
Hi, I was wondering which is more risk, volatility of bitcoin or stocks with leverages? Thanks
Too right mate, i also choose not to invest in the US Dollar and US stocks because it is not Regulated buy Australian Government
hey Sasha, you may start learning about cryptocurrencies as soon as possible, investing on them is investing on new technology, plus you can start small, I bet you will investing in cryptos in 2018. btw big fan of you
If I have under 25k and would get hit by the PDT rule, but can make 3 day trades in a 5 day week, And if i make those trade on Monday Tuesday and Wednesday, the following week will I be able to make one day trade that Monday Tuesday and Wednesday because it's been exactly 5 days since those initial trades?
I'm glad you made a video like this. I been in this market for six months, very changeling. But all the skills of volume and price action learn from this channel. Works well, just a lot volatile and stress as you said in the video.
Very true and you hit the nail right on the head. I see no bias in this video, youre simply speaking your mind. Fantastic content dude
You'll never know unless you try.
if there is a limited quantity of anything, can there be any bubble at all ?
If you didn't understand the physical coins you should have research and learn it instead of just tossing it… I'm sure you didn't understand stock market when you first started it either.
BITCOIN WILL CRASH AND BURN. Check out my podcast to hear what i think about it
Can I buy weed with bitcoin ?
Great video, thanks
Great video really helped me check myself before getting into that poor lottery mindset. Realy helped me remember that wealth is built from repetition, becoming skilled, and creating a disciplined mind set.
I like your liberal use of monitors, I think 4 more would do the trick.
Experience is everything.. great video
Appreciate the wide view on Bitcoin and investing in general. Very honest appraisal. Obviously cryptocurrencies are not in your wheelhouse but you didn’t come out of this looking a fool like a lot of talking heads tend to do. More respect to you mate.
You just wasted my time
'The question is when it's going down', 'Not everything will go up all the time'. But can't one say the same thing about stock markets?